3402 Main St Merrill, WI 54452
- Lifestyle centers
- 96,501 SF
- 10.10 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 3402 Main St
- Year built
- 1985
- Lot size
- 10.10 lot acres
- Property size
- 96,501 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Merrill Ridge Plaza, a 96,501 square foot shopping center in Merrill, Wisconsin, presents a compelling value-add investment opportunity. Located at 3402-3500 E. Main St, this property boasts a diverse tenancy including a Tractor Supply and a nine-tenant strip center. A significant portion of the property, 73,870 square feet, is currently vacant, representing a substantial lease-up potential. This space was previously occupied by a Walmart and later used as a call center by Church Mutual Insurance, highlighting its adaptability for various high-demand tenants. The property sits on a 10.1-acre lot and is zoned C-Local Business, offering flexibility for future development. Built in 1985, the center currently enjoys 65% occupancy, generating a pro-forma net operating income (NOI) of $161,797. The vacant former Walmart building is on a separate tax key, providing potential for separate sale or lease, offering an attractive exit strategy. The property's strategic location in Lincoln County, near Kwik Trip and McDonald's, ensures high visibility and accessibility. This investment offers the chance to implement improved property management strategies, maximizing returns in the thriving North-Central Wisconsin market. The APN is 251-3106-182-0151 01, 251-3106-182-0152 01, and 251-3106-182-0130. The property is a multi-tenant retail space with a Net Lease (NNN) structure.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Merrill
- County
- Lincoln
- State
- Wisconsin
- Longitude
- -89.651
- Latitude
- 45.1795
